Many potential homeowners, including first-time buyers, are renting their dream property before they close the deal

W
e have changed during the recession, from being a nation of impulsive
property investors to being far more thoughtful about our bricks-and-mortar
purchases. One result is a rise in the number of people who “rent to buy”.
For some, it is a way to save up for a deposit, but not forgo the dream
address; for others, it is a way to research the area or even give a
property a test run.

Simon and Francesca James, for example, decided five years ago to rent a
two-bedroom flat in Battersea, southwest London, for £1,600 a month while
letting out their four-bedroom detached house in Chislehurst, Kent, for
£1,750. “It made for an easy trip to work and enabled us to look for a place
to buy,” says Francesca, 53, who works in music publishing.

The couple enjoyed life in Battersea so much that when, last March, they were
given notice